You are right, but that is when you withraw cash directly from atm using your payoneer card.
The best way is to add your local bank account to payonner. Login to payonner and add a bank account.
After the bank is approved you can withraw directly to your bank account , and thaan get better exchange rates.
The time of funding from payonner to local bank is officcially arounf 5 days , but i get funds normally the esame day.